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Here’s a quick profit maximiser strategyy that’s been working for me.
With this strategy you can potentially profit from multiple trades, just by risking one trade! Please note that this strategy works on trades with high take profit levels of usuallt 40 pips or more.
Here’s an example on how it works…
- First you open your first trade
- Once it reaches 15-20 pips, you create a duplicate order of this trade with the same stop loss and take profit levels
- The original, you ammend the stop loss to the entry price.
- Now you have 2 trades open.
- If the first trade hits stop loss, you’re just going to lose out on the commission fee for the trade but will not lose anything more as you moved your stop loss to the entry point.
To save on the commission, you can even set the stop loss just a few pips before the entry point so that you hit stop loss on a few pips profit. - So if all works out and both trades hit take profit, you would profit from both trades but only risked 1 trades worth, with of course 10-15 pips extra added to the stop loss on the seond trade as you opened the 2nd trade after 15-20 pips from the original trade.
Here’s some examples of some trades that show the strategy in action…
As you can see from the last example, eurgbp, I was able to profit from 4 trades just by risking 1 trade:-)
As mentioned, this strategy can be most effective on trades with big take profit levels, for example swing trades.